UK SELF EMPLOYED HELP!
UK SELF EMPLOYED HELP!
Out of context: Reply #7
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- trevedda0
I think you'll find that you pay tax on money once you recieve it not when you invoice for it. Otherwise, if they didn't pay you you would have to claim that back from the tax man. There were some new rules recently about work that was done in one year and invoiced/paid in another tax year but I think they refer to companies rather than individuals. Basically the tax you owe is based on the money you have recieved not the money you asked (invoiced) to recieve less all your legitimate business expenses.
Accountant should sort you out if you're really struggling though.